For When Life Happens…

Whether your old car has finally bit the dust and it’s time for a replacement or you’re simply looking to upgrade your Detroit drive, you’ve probably got a car loan on the mind. Did you know you can visit a credit union for a car loan? Not only does that mean a familiar face on the other side of the desk, it means quite a few advantages when you go shopping for that new or used car.

Advantages of Credit Union Car Loans

For many Romulus and Redford residents, the car buying process has been the same as it was for their parents: do some research, visit the dealership, take the test drive, sign the paperwork, and drive home. But what if you could know your interest rate before visiting the dealership? When you visit PSCU before you go car shopping, you have quite a few advantages:

Handle your payments through a financial institution you already know and work with

Longer terms (PSCU offers auto loan terms of up to 84 months)

When you get approved for a credit union auto loan, you’re able to shop around from dealership to dealership, brand to brand, to find the exact vehicle you want without being surprised at the financing stage. You can also use it as negotiating power: you have a fixed dollar amount for your next car, and that might make a dealership more willing to drop the price some on a fancier model.

One of the most frustrating parts of using a dealership for a car loan can come a month later, when your payment is due. If you already have an account with PSCU (and opening an account is easy), you just have one site to visit for your banking and for paying your loan. Qualified members can even receive up to 100% financing — that means no down payment necessary.

Using a Car Interest Calculator

One of the biggest advantages of choosing Public Service Credit Union as your Detroit auto financing solution is that we give you the tools to know how much you’re going to be paying. We now it can be confusing to arrive at a dealership, be presented with your loan options, and then be expected to decide right then and there.

Our car loan calculator does more than give you an idea of how the numbers will break down, it also explains what every term means, including:

Monthly payment

Total purchase price (before tax)

Term in months

Interest rate

Rebates and cash down

Trade allowance

Amount owed on trade

Non-taxable fees (optional)

Taxable fees (optional)

Sales tax rate

No sales tax deduction for trade-in

Whether you’re looking for a used car loan calculator or want a car interest calculator for a brand new car, our tool makes it easy to start budgeting before you even apply for your car loan with PSCU. Just input the value of the car, any down payment information and your estimated trade-in value, and let it do the rest.

Start Your Car Search with PSCU

The only real advantage an auto dealership brings to the table is offerings from multiple banks — but then you’re still dealing with traditional banks. Take advantage of the Detroit credit union that Michiganders have been choosing for decades and see the advantages of a credit union car loan at Public Service Credit Union. Have questions? Don’t hesitate to contact us, we’re here to help.